A scalper can refer to a day trader, collector, or someone who buys hard-to-obtain items to sell at a higher price. However, it is more commonly used to describe people who buy tickets in bulk and resell them for a markup. Scalping is illegal in many states, and buyers should be wary of fake scalpers who may sell fake tickets or pose a danger. Enforcing scalping laws is difficult due to the high number of people doing it.
The term scalper has several definitions. It can apply to a day trader in the stock market who buys stocks and sells them quickly, usually within minutes, for small profits. The term scalper can also refer to anyone who buys collectibles not to collect but to make money by selling them at a profit. Another form of scalper buys hard-to-obtain items, such as popular new toys released during the Christmas season, and then sells them for a much higher price.
More commonly, people use the term scalpers to describe people who purchase tickets to sports events, Broadway shows, or concerts in bulk. They then resell these tickets, usually right in front of where the event is going to take place. Ticket prices sold by a scalper can have up to 100% markup, but people may need to use a scalper when they can’t get tickets through other means.
In many states, scalpers are illegal, especially when they sell tickets right outside the venue. On the other hand, buying tickets in advance and reselling them from home or work at a higher price is often not considered illegal.
Be wary of the ticket scalper, as he may be selling tickets that are not real. If one is desperate to attend an event, look for people who sell an extra ticket or two at market value. Many people accidentally end up with an extra ticket and are willing to sell the ticket at the original price.
Also, occasionally, predators pose as scalpers to lure people away from an event and rob or injure them. You should never follow a scalper anywhere that takes you out of public view. This is a dangerous practice that could hurt you, especially if the fake scalper knows you’re bringing in a lot of cash to make a purchase.
While the actions of a scalper at an event venue tend to be illegal, they are difficult to enforce since so many people are scalping tickets. Usually a scalper operates nonchalantly towards any state statute that prohibits scalping.
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